May 07, 2014
Nationwide Financial Wins New 457 Client
Pierce County, Washington, becomes latest public-sector plan sponsor to benefit from Nationwide’s on-site service and support
Columbus, Ohio - Nationwide Financial, the nation’s largest public-sector retirement plan provider based on number of plans,1 will become the sole 457 deferred compensation plan provider to Washington State’s Pierce County. Nationwide will provide consolidated recordkeeping, marketing and educational services for the plan’s approximately $155 million in assets and 2,000 participants.
The announcement expands Nationwide’s long-standing support for the retirement planning needs of America’s state, county and municipal workers. In 2013, more than 1 million public-sector workers used Nationwide’s tools and education services to help them plan for their financial futures. 2
Last year, Pierce County issued a formal request for proposal through its purchasing department. This competitive search resulted in 10 bids. After a thorough review, Nationwide was selected as the most appropriate partner for the county’s participants.
Pierce County employees will have access to personalized retirement support with a significant increase in on-site service days, a new simplified investment menu including the Nationwide Fixed Account, and an interactive, mobile-optimized website.
“With the shifting retirement landscape placing more responsibility on individuals, we have made it our mission at Nationwide to help America be ready for the retirement they’ve earned,” said Eric Stevenson, senior vice president of Nationwide Retirement Solutions. “We are excited to be working with Pierce County and helping its employees plan for a financially secure retirement.”
Nationwide Retirement Solutions, Nationwide Financial’s public-sector retirement plans business, has been dedicated to public-sector employees for more than 40 years. Nationwide serves nearly 8,000 public-sector retirement plans with more than $59 billion in assets.2
For more information, plan sponsors should visit www.NRSforU.com.
Nationwide Mutual Insurance Company, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best and Standard & Poor’s. The company provides a full range of insurance and financial services, including auto, commercial, homeowners and life insurance; public and private sector retirement plans, annuities and mutual funds; banking and mortgages; specialty health; pet, motorcycle, boat and farm insurance. For more information, visit www.nationwide.com.